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avalos: thank you. >> uh-huh. this next slide demonstrates the analysis of the financial impact as relates to libor manipulation requires an analysis of the debt side and the investment side of the city's operation. as you can see on the debt side, which showed you the fixed rate and the variable rate. on the fixed rate, libor manipulation was not impacted. we have listed all the city agencies that have a debt portfolio, including the city's general fund, the airport, the public utilities commission, the port of san francisco, and the san francisco municipal transportation authority. we haven't reached out to include external agencies, but we know that the city college as well as the san francisco unified school district has debt portfolio and would fall under this category and would not be impacted. on the variable side of the house, the department is issuing variable rate indebtedness index to libor may have been impacted. in terms of the airport, if it is backed by -- or index to libor they could have exposure and kevin cohen will speak specifically to the airport's portfolio
. >> supervisor avalos: thank you for your work on this presentation. you mentioned briefly the city -- add the school district that they don't have investments who have been affected by libor, is that what you said? >> yes. in terms of the debt the 30r8 -- so they wouldn't have been affected but because they're -- all the different entities are they could potentially be impact but on the debt side of the house, no. >> supervisor avalos: very good. thank you. >> thank you. >> good afternoon, chair farrell, members of the committee, kevin cohen, assistant deputy director near capital finance at san francisco international airport. before we move into the airport portion of the presentation i wanted to take a couple of minutes to kind of give you some background on the airport's debt portfolio. the airport currently has 4.3 billion in outstanding debt of what we call airport revenue bonds where the principle and interest is solely paid by the users of the airport. it does not receive any support from the taxpayers of san francisco. in fact, last year, the airport contributed 15% of our conces
've been functioning as planned and designed and we are happy to have them in place. >> supervisor avalos: these rates that you have for the fixed rates, at 4.09% is that the current rate? >> that's actually an average of long-term fixed rates kind of across the board. that's what the municipal finance people use as benchmarks to understand how you're performing against how others are performing. >> supervisor avalos: and this 3.6% is that what the maximum could be for variable rate? is that -- >> correct. >> supervisor avalos: do you know where we're at in terms of where we're at on the average? >> that is the actual rate of all of our swaps blended together. we will never go above that rate. even if interest rates raised to 6% the airport will never pay more than 3.69. so it's a very good tool. >> supervisor avalos: how does this compare to other swraps that -- >> well, it depends on when different entities enter into swaps. the the market is always changing. in general we're very pleased with these interest rates that we locked into because when we entered into these interest rates, yo
>> supervisor avalos: thank you. >> thank you. >> good afternoon, supervisors. gregg coto from the san francisco treasurer's office. i'm here to talk about the city and county of san francisco treasurer's pool fund portfolio and to give you context over the period of time from 2007 up 'til present, the actual size of the portfolio has ranged from $3 billion to $6 billion. during the time that we've been talking about with the manipulation from it 2007 through 2011, the treasurer's pool fund did have investments in securities that had interest rates that were based on the libor rate and that was roughly about 5% of our portfolio. and none of these investments experienced any principle losses. our analysis does show that due to an active trading strategy our portfolio yield and our earnings were not materially or significantly impacted by the libor manipulation. >> supervisor avalos: what does that mean in terms of dollars, not materially impacted? >> less than three basis points. less than 3/100 of 1% and we're making over 1% on our portfolio this year. >> supervisor avalos: wha
avalos has also called out some of these settlements to date. as of june -- in june 2012 bar clay's paid 264 million to u.k. and u.k. regulators. usb was fined $1.5 billion by u.s., u.k., and swiss regulators in december 2012 and royal bank of disotland was find 612 million by u.s. and u.k. regulators in february of this year. in addition to these three banks, 12 of the 15 remaining banks contributing to the libber calculation are under investigation by u.s. ande and u.s. regulators, commodities trading commission and the u.s. department of justice. >> supervisor avalos: you have on the beginning of the slide you mention the banks allegedly submitted rates. there actually have been real admission from the banks, right, that they have actually contributed to manipulation. is that correct? >> that is correct. and the deputy city attorney will be speaking -- >> supervisor avalos: as part of the settlement is it correct the banks pleaded guilty or is that -- >> i will leave that to the city attorney. >> supervisor avalos: that's what we have attorneys for. this is also for the city attorney,
, london breed, scott wiener and john avalos. i would like to thank the members of sfgvtv as well as the clerk of the committee, victor young. do we have announcements? >> the clerk: please silence all cell phones and electronic devices. copies should be submitted to the clerk. items acted upon will appear on the april 9 board of supervisors agenda unless otherwise stated. >> chair farrell: thank you very much. mr. clerk, can you please call item one. >> the clerk: 1. hearing to review the impact of illegal manipulation of the london inter-bank offered rate on san francisco's finances; to explore options to recover any losses; and to review any interest rate swaps or other financial instruments the city is engaged in that may have excessive interest rates or fees that should be renegotiated. >> chair farrell: thank you very much, mr. clerk. this hearing was called for by supervisor john avalos and cosponsored by supervisor campos. so i will turn it over to supervisor avalos. >> supervisor avalos: thank you, mr. chair, thank you for hearing this item. colleagues, this is an item i
>> supervisor mar:thank you to supervisor avalos and also to -- and different groups around the country that are challenging different cities like in seattle. our city has been a leader in addressing climate change historically and it is making great gains in reducing greenhouse emissions for the work of many of us. yes the san francisco retirement system has over half 1 billion dollars invested in fossil fuel companies. we should not be investing our city's pension fund and oil, gas and coal companies many of which are planning to continue to burning massive amounts of carbon into the environment, but rather ensure the safety of the communities and promote renewable alternatives. the city should be making investments consistent with the cleaner plan, support the public good. our pension fund should divest fossil fuels polluting our environment . invest in the energy sources of the future again thank you to supervisor avalos and the many richmond district residents and people throughout the city who have supported this. >> president chiu: supervisor cohen. >> supervisor cohen: as a publ
of the future again thank you to supervisor avalos and the many richmond district residents and people throughout the city who have supported this. >> president chiu: supervisor cohen. >> supervisor cohen: as a public service announcement i want to bring attention that i am the board appointee to the san francisco retirement board. i will continue to carry your wishes on this board but i wanted to manage the expectations that this is a nonbinding resolution; a statement of this body asking and urging the retirement board, of which there are six other members to take this under consideration and also want to know is that there is a very thoughtful, but fairly long and drawnout process, the divestment process to begin this process. and i will be making an appointment to talk with each of you to talk about the divestment process and to make myself available to you and answer questions that you may have on how we can begin to move this particular policy . agenda forward as you know there are other discussions that we are doing with, , not only talking about divestment from fossil fuels bu
was called for by supervisor john avalos and cosponsored by supervisor campos. so i will turn it over to supervisor avalos. >> supervisor avalos: thank you, mr. chair, thank you for hearing this item. colleagues, this is an item i brought forward a couple of months ago, looking at the real manipulation that had occurred under the london interbank offered rate. the lie board scandal and what the impact is to san francisco. clearly, we know that there has been real cases of manipulation and scandal and fraud under the liebore scandal and we want to make sure we're doing everything we can locally to try and recover any losses we've had in san francisco. and this hearing is to explore what those might be and to encourage the city to seek action as well. before i start off, i do have a little bit of humor to add to initiativnrnt this process, goi- initiate the process going back from the report as they reported to the liebore scandal. >> chair farrell: may we have the computer display. >> supervisor avalos: want me to start over again? >> chair farrell: may we have the computer display, pl
this resolution. >> president chiu: supervisor farrell. >> supervisor farrell: thank you supervisor avalos and president chiu, i made amendments. a primary concern is the investment returns coming out of the retirement system specifically given that we depend so much on our city budget as employer but also as employees of the city and county of san francisco. those 7.5% annualized returns come to fruition. i realize that my amendments were duplicated so i will make a motion to remove referrer the result loss, line 23 and page 3, and ending on lne 22 page 4. colleagues i have that notion. >> president chiu: second by supervisor avalos. supervisor avalos. motion to amend? >> supervisor avalos: i want to thank supervisor farrell for his flexibility.i thought he was helpful to get together on the same page. >> president chiu: can we take without objection? supervisor yee. >> supervisor yee: . i want to make sure thank you authors of this resolution is important for us as an entity, the citizen from cisco to make a statement about the climate issues. and i think this is a good statement. in
the banks to take money away from us ever again. thank you. >> supervisor avalos: thank you. >> i'm rebecca morrow, the public health nurse and i live in district 5. i think about this kind of in general terms, in family terms. when you have small children, and they have done something inappropriate, they have a time out. when you have a kid in high school, and they're not making the grade, they're acting up, they're breaking the rules, their report cards, their sat scores and there are consequences for what they do. if you're an adult and u a dui and you hit somebody you don't just pay the fine but you need to be accountable to the family of the person you killed. what i'm seeing with the vague response from the city attorney's office is well we're going to kind of look at things. we need to follow through. we need to go forward. i'm really sort of disappointed that san francisco wasn't leading the way on this and that we're waiting to see if we want to join someone else. we've seen too many service cuts. if u been to a hearing and heard these people, whose lives depend on a program that a
taxpayers. >> supervisor avalos: just a question. could you say -- talk about are any attorney generals around the nation taking up -- playing an active role in helping municipalities and counties recover from the losses? >> a number of attorney generals across the country have active investigations. and that's what we have heard so far. so i don't think publicly there's been any fines or any lawsuits filed. but they are in the stage of investigating to i think decide the way forward. and i think cities calling on them to be more aggressive and to jump in, given that there are some time limits would be helpful. >> supervisor avalos: in california do we see a strong action from our city attorney general? >> what we have seen is that they're investigating the issue. >> supervisor avalos: okay. anything else to add? >> i'd like to talk about the other kinds of deals. what we know is that libor fraud is just the tip of the iceberg. we're learning every day of illegal and unethical practices by these banks who peddle high cost risky deals to entities just the way they peddled high cost loans
avalos: thank you. next speaker please. >> good afternoon, supervisors. elizabeth -- vice president of politics for sau local 21 and i work at the tenderloin clinic. over the last six years we have been sustaining terrible budget cuts. you're the budget committee. you will be looking at this again. we have sustained terrible cuts to rec and park services, children sss, homeless services, muni routes, bus routes, having cut healthcare, and health clinics have emerged and mental health have almost been decimated. in terms of workers their paychecks have been cut, we've restructured pension payments to deal with the losses. currently, our union is being attacked. it's 45 classifications are being asked to take wage cuts. and these are classifications that are mostly held by women and people of color. we were here talking to you before about this. workers haven't blamed, services have been blamed. we've been cut and it hasn't fixed the problem. witbut here we have in front ofs the people who caused the crisis and it's time we have to go after them. we have to go after the people who cau
to thank supervisors mar and tank, and cohen and avalos for cohosting our recent town hall meetings. it is an important part of this process. i am looking forward to working collaboratively with all of you to develop a thoughtful and sponsor budget this year. and finally i want to take this opportunity to cheer on the golden state warriors are as they face the denver nuggets, game 2 playoffs. without let's go on to the questions that we have today. >> president chiu: go warriors. supervisor mar. >> supervisor mar: thank you for your hard work and for routing for our sports team as well. as a longtime immigrant activist myself, this is a question for the language equality according to census, 40% of seven siskins are foreign-born and city residents speak more than 28 different language is. our city land which access ordinance has been in effect since 2009 after many immunity organizations . advocated for it the ordinance make sure that various needs of the diverse language population are served yet i and others are aware from feedback that our city departments still struggle to mee
has lost money, however much, that you ask for its return. thank you. >> supervisor avalos: thank you very much. i'm going to call a couple more cards before the next speaker. annie sims, elliott cats, and ian hadel. >> i'm elliott cats. i don't know what happened to the other person. 35 years ago, i founded an organization here in san francisco that currently produces the ethnic dance festival with the hotel tax fund. in those days, i was fighting for the cultures of the minorities. there was a very strong effort to keep the ethnic minorities down by hotel tax fund giving all their money to the, in quotes, white cultures. that has been balanced out. now i see a similar kind of situation happening with the way the banks are treating the minorities, taking advantage of them and so forth. last week, i sat here and i saw people literally crying with tears in their eyes, people with hiv, people with the catholic charities of america, pleading, don't cut back their budgets, their lives depending on it. i'm here to basically say that you have an obligation for -- not to turn your backs on p
about. i want to thank supervisor avalos and supervisor cohen that it will be here in a minute. your budget chair is supervisor farrell, i want to thank him as he will have a lot of meetings. and i want to thank the different departments represented here. you can see them, we will have a chance to identify them in a minute. again we will give priority of time to the residents, to the nonprofits, to people who work here in the community in district 10/11, to express what you think our budget should reflect. this is an important part. this is the second of at least five or six we are doing throughout the city. to give people the opportunity to tell us what their priorities are. and then we will work those into how we make decisions about our budget in the city. i wanted to begin by saying we are better and better each year. doesn't mean we don't have a deficit. we still have a deficit in the budget. this year coming $123 million, and the second year in the budget covering 2014/15 has $256 million deficit. we are not out of woods. but these numbers are better than $500 million and $700
voted in. people trusted you. please don't turn your back on them. thank you. >> supervisor avalos: thank you. next speaker please. >> good afternoon. my name's annie, and i'm a member of seiu 2021 and a city worker for -- i'm disappointed the city took so long to notice this problem which have exist since 2007, and i have been sacrificed because as a city employee, i have been doing -- give taxes since 2007 and at that time my minor son that was in high school, second year into a private high school because of this crisis that the banks created, now i have to give back to the city, i have no choice but to pull my son out from a private school because he's achieved scholarship was cut due to -- in order deficit. so at least if we're doing something i'm really wishing and hoamg that san francisco will take ownership and leadership of this project, and be the leader to -- up with other counties. so hopefully we'll get down to this and find out how much was due back to the city. because i'm tired of the continuing to pay back as i have nothing to give back to the city anymore. and als
avalos, breed present. supervisor chiu? chiu present. supervisor cohen? cohen present. supervisor farrell? farrell present. supervisor kim? kim present. supervisor mar? mar present. supervisor tang? tang present. supervisor wiener? wiener present. supervisor yee? yee present. mr. president, all members are present. >> thank you. ladies and gentlemen, before we do the pledge of allegiance, i'd like to ask that we take a moment to recognize the victims of yesterday's boston marathon tragedy. [moment of silence] >> thank you very much. and ladies and gentlemen, could you please join us in the pledge of allegiance. i pledge allegiance to the flag of the united states of america, and to the republic for which it stands; one nation under god, indivisible, with liberty and justice for all. >> colleagues, we have our march 12, 2013 board meeting minutes. could i have a motion to approve those minutes? motion by supervisor campos, seconded by supervisor breed. without objection, those meeting minutes are adopted. [gavel] >> madam clerk, do we have any communications? >> there are no communication
as avalos is saying, i think it needs to include healing places and i'm shocked that we are going to talk about gambling and have back doors for more alcohol. i'm sorry, i just started going back to church. it's like hello. it's like if people want to do that. there has to be a vehicle.. and later you will be apologizing to our community and i think you are doing a great job. this legislation is ridiculous. i'm sorry. >> next speaker. den, >> i have a 20 year survivor of aids. thank you. good afternoon. my name is mark cameron. i oppose this. it doesn't fit this business. what we have here is supply and demand. if there wasn't a need nobody is going to them. willie brown, our former mayor himself said there is a starbucks on every corner because there is a customer on every corner. we should have this in our community for access to the patients. so many of them are disabled. this is impossible for me without this medication. we have an economic status in this community. when people come to spend money, more money is spent around the area. you are not seeing a crime influx in these areas.
on aye three items? >> on items 23 through 25, supervisor avalos? avalos no. supervisor breed? breed no. supervisor campos? campos no. supervisor chiu? chiu no. supervisor cohen? cohen no. supervisor farrell. farrell no. supervisor kim? kim no. supervisor mar. mar no. supervisor tang. tang no. supervisor wiener. wiener no. supervisor yee? yee no. there are 11 no's. >> the ordinance has failed. [gavel] >> item 26. >> item 26 is a resolution determining the issuance of a type 22 on sale beer and wine premises license located at 54 3 2nd street will serve the public convenience. >> roll call. >> on item 26, supervisor avalos? avalos aye. supervisor breed? breed aye. supervisor campos? campos aye. supervisor chiu? chiu aye. supervisor cohen? cohen aye. supervisor farrell? farrell aye. supervisor kim? kim aye. supervisor mar? mar aye. supervisor tang? tang aye. supervisor wiener? wiener aye. supervisor yee? yee aye. there are 11 ayes. >> the resolution is adopted. [gavel] >> item 27. >> item 27 is a resolution determining that the issuance of a type 21 off-sale general license for fm smokes
, supervisor avalos, supervisor breed, supervisor choou, cohen, kim, supervisor mar, there are 11 ayes. >> the ordinance passed. >> item no. 12. >> miscellaneous variance to same section. >> can we take the same call? without objection this is passed. >> the appointment of murphy term. >> supervisor avalos? >> thank you, president chiu. i don't necessarily speak out against appointments. i know the mayor has a lot of leeway to appoint commissions. i have a reason why i want to appoint mr. murphy. i know he has made many contributions to our city as a contractor and developer and also made great contributions in terms of housing in the city. i'm really concerned about the appearance of really not following the rules that all of us expect to a contractor to follow over the years. as president of the dbi commission of the past, would you expect that mr. murphy would make sure he could follow the proper procedures along his permits. apparently there are instances that it shows where he has not. he had a house on 26th street, 3418, 26th street, he bought a single story home and in 2004, th
avalos? avalos present. supervisor breed? breed present. supervisor campos? campos present. supervisor chiu? chiu present. supervisor cohen? cohen present. supervisor farrell? farrell present. supervisor kim. kim present. supervisor mar? mar present. supervisor tang? tang present. supervisor wiener? wiener present. supervisor yee. yee present. mr. president, all members are present. >> thank you research, madam clerk, ladies and gentlemen, could you please join us in the pledge of allegiance? i pledge allegiance to the flag of the united states of america. and to the republic for which it stands, one nation under god, indivisible with liberty and justice for all. colleagues, we have our march 5th, 2013 board meeting minutes. can i have a motion to approve those minutes? motion by supervisor campos, seconded by supervisor yee. without objection those meeting minutes are approved. [gavel] >> madam clerk, are there any communication? s? >> there are no communications, mr. thv. >> can you read our consent agenda? the consent calendar is considered routine. if a member objects ictiontionth
and i will be chairing and also joined by avalos and mar and the vice chair is out sick today. i would like to thank the members of sfgtv for covering this meeting today as well as the clerk of the committee mr. victor young. mr. clerk, do we have any announcements? >> yes, silence all cell phones and electronic devices and complete the speaker cards and any documents to be included as part of the file should be submitted to the clerk. items acted upon today will be on the 16th april, board of agenda. >> could you call item number one? >> item number one, resolution approving the acquisition of 30 aviggation easements from the various property owners of the san mateo county required for the san francisco international airport's notice insulation program. >> we have john up dike director of real estate. >> it is the approval of the acquisition of 30 avigation easements within a certain noise insulation program, run by the san francisco airport in san mateo county and so the item seeks your approval of those easements as well as the findings relative to the general plan of conformity. th
avalos, the chair of the transportation authority, the clerk of the board is erica chang and we are brought to you by the sfgtv staff, madam clerk, could you call the roll? >> roll call, avalos? >> present. >> breed? >> present. >> campos? >> present. >> chiu? >> present. >> cohen. >> present. >> farrell? >> present. >> kim? >> kim, present. >> commissioner mar? >> mar, absent. >> tang in present. >> weiner? >> absent. >> yee, absent, we have a quorum. >> very good, could you call the next item. >> approval of the minutes of the march 26, 2013 meeting this is an action item. >> any comments or questions on the minutes, we will go to public comment, two minutes and seeing none, for public comment, we will close public comment. >> and item number two, commission avalos? >> aye. >> breed? >> aye. >> campos. >> aye. >> chiu. >> aye. >> cohen aye. >> ferrill. >> aye. >> kim? >> aye. >> mar? >> mar, absent. >> and commissioner tang in >> aye. >> weiner >> aye. >> yee, yee absent. item passes. >> very good. our next item please. >> three, this chair's report this san information item.
. >> supervisor avalos? avalos aye. supervisor breed. breed aye. supervisor campos. campos aye. supervisor chiu. chiu aye. supervisor cohen. cohen aye. supervisor farrell. farrell aye. supervisor kim? kim aye. supervisor tang? tang aye. supervisor wiener? wiener aye. supervisor yee? yee aye. there are 10 aye. >> the motion is approved. [gavel] >> and we'stion, it's right before 2:30. i wanted to see if supervisors avalos and yee have special commend asianvs. i was wondering if your folks were here or if we should go to roll call. supervisor avalos? yours is here? why don't we, colleagues, if we can, without objection, move into our 2:30 special order so we can start acknowledging the folk that our colleagues would like to commend today. like to start with supervisor avalos. >> great, thank you, president chiu. would like to call up [speaker not understood] to our podium. so, this is national library week and i'm a big library fan. my family spends a lot of time at the library and i want to honor a special person who works at the oceanview branch library in district 11. and i'll start off in gen
's motion. >> supervisor yee? yee aye. supervisor avalos? avalos aye. supervisor breed? breed aye. supervisor campos? campos aye. supervisor chiu? chiu aye. supervisor cohen? cohen aye. supervisor farrell? farrell aye. supervisor kim? kim aye. supervisor tang? tang aye. supervisor wiener? wiener aye. there are 10 aye. >> the motion is approved and the categorical exemption is affirmed. [gavel] >> thank you to the members of the public. and with that, let us go to the adoption calendar, madam clerk. >> items 19 through 21 are being considered for immediate adoption without committee reference. a single roll call today [speaker not understood] unless a member objects, a matter can then be removed and considered separately. >> colleagues, would any member like to sever these item? supervisor cohen. >> thank you, mr. chair. i'd like to sever item 21. >> tie at thev 21 is severed. members of the public, if you could please leave quietly, we still have a little bit of business to do in front of the board. madam clerk, can you call the roll on items 19 and tae? >> supervisor yee? aye. su
to thank supervisors mar -- supervisor mar for his kind comments, and supervisor avalos for fine reading of a wonderful poem and the haiku to the mayor during question time which i saw. and all the supervisors for considering that the legacy of san francisco in a way depends upon the continuation of the legacy of the poetry arts in san francisco. also to my fellow poets and other kind comments and contributions today, and to the laureate alejandro magia, i poem today is a third of the traditional trip let of haikus that form a traditional haiku, just a small one, written after i read the agenda. public interest. the winds and blossoms of spring have no lobbyists. one more time. public interest. the winds and blossoms of spring have no lobbyists. thank you very much. >> thank you. next speaker. >>> hello, good afternoon. my name is douglas [speaker not understood]. just for the record, the sacred heart teams were staring at you. i did notice all 11 of you were properly seated and looking, looking like you were paying attention. so, thank you for doing that. just for the record, i went to
a compromise otherwise we support supervisor avalos and we thank him. >> thank you for this opportunity. my name is tim bolt. i'm a member of the largest organization of doctors. we strongly oppose a 500 foot buffer in the outer mission or instituting a conditional use permit or restricting safe access at all in san francisco, the birthplace of medical dispensaries. if the planning commission places additional restrictions the establishment of mcd's in one district, they should look at opening up space at others. if mr. avalos wants to prevent clustering, then the board should consider opening up more space throughout the city as well. this action is reactionary. the worry of residents not used to have been cannabis dispensaries in their neighborhoods is natural, but the reality is different than their fears. research conducted by ucla concludes that regulated dispensaries reduce crime and increase public safety. on top of that, access is recovering from a federal crack down last year where eight of our dispensaries are closed. we don't need to restrict these anymore. thank you. >> my name
avalos and the executive director from our department of emergency management and paul henderson from the mayor's office and thank you so much for being here today. the vips up here on the stage are going to be presenting awards to hero and honorees. as the answering point for services, the 911 center in san francisco processes 1 million 91,000 calls a year, and with the first agency in the state of california to accept our own wireless 911 calls and have done so successfully for 12 years. 75 percent of the calls that we receive are from cell phones so it is important that you train your kids and family members to know how to dial from a cell phone and if they speak a language other than english to call for help saying what dialect they can speak, we can translate into three languages if someone that you knows or loves dials 911 and english is not their first language, give us the dialect and be able to connect them with someone that can speak their language as quickly as possible. >> it is my pleasure to present the first 911 hero. tala hall. if you come up and we have supervisor joh
Search Results 0 to 49 of about 334 (some duplicates have been removed)